MarketChess
Showing articles 6311 - 6320 (6647 total)
20Jan2:27 pmEST
Hitting Russia Right in the Goldeneye; Chess Moves
With oil remaining weak and vulnerable to washing out again, I went short Russia as a proxy. Specifically, I went long RUSS (the triple- short Russia ETF) at $24.60 for a potential day-trade , may swing overnight. My protective stop-loss is below $23, though I may cut it sooner if it goes against me. This trade is roughly 4% of my trading...
20Jan1:06 pmEST
Don't Miss the Train at These Two Stations
First and foremost, I still see plenty of "holding and hoping" from crude oil longs, despite another gap down today. While shorting crude down here is a tough trade, I am not so sure we have seen that true sentiment shift toward fear, panic, then apathy, which we typically see at a bottom. Thus, I continue to remain flat in the crude oil...
20Jan11:36 amEST
Gold Bears Playing Hide-and-Go-Seek
The easiest conclusion to draw with this morning's gap up across the board in the precious metals and miners complex is to note how overbought they are in the short-term. Indeed, observing the gold ETF daily chart, below, we can see that price has been "riding along" the upper Bollinger Band in recent sessions, and is now gapping free and clear...
20Jan10:41 amEST
Locking in More of a Big Win; Chess Moves
I sold another half of my NUGT long @ $20.37 from $16.88 entry noted in this blog post . I also previously scaled gains at $18.96 in this post . I am down to a small "runner" in the position now, willing to let it ride in case gold miners continue to go crazy to the upside. I raised my stop-loss up to $18. Overall, the precious metals and...
19Jan7:10 pmEST
Monday Night View of Oil
I present the current chart for crude oil, stretching back several weeks. You can plainly see the steep decline, followed by recent bounce attempts. First and foremost, the highlighted yellow area shows what could be a potential inverse head and shoulders bottom, with $49.70 being an initial area above to clear in order to sustain a meatier...
18Jan2:19 pmEST
Weekend Video Strategy Session 01/18/15 {Video}
The following video contains coverage of the broad market, as well as tons of actionable trading ideas for equities and other markets regarding the coming week of 01/19/15-01/23/2015. Trade Well. Protect your portfolio at all times. -chessNwine Direct Vimeo Link Click Here
18Jan11:38 amEST
Sunday Matinee at Market Chess Cinemas
A Prophet (2009) [“Un prophète” (original title)] is a terrific thriller about a young Arab man sent to a Corsican prison, where he must deal with the ruling mafia. I have recommended this one before. But believe it is worth another post, given how few people have seen it. The film is able to attain a certain depth to the characters and plot...
17Jan12:24 pmEST
Gold Shorts Stuck in the DUST Bowl
After being so vocal for so long, precious metals and miners bears have been noticeably quiet of late. In this business, it sure is easy to be in cheerful spirits and brimming with confidence with things are going well. But when the tide changes, it is usually only then that we see whether the confidence is true or instead is a thinly-veiled...
17Jan12:16 pmEST
The Panic of 1893 with Lawrence Reed
On this Saturday of a long, holiday weekend, it is worth relaxing and watching the following video. It features a fascinating and educational lecture about the Panic of 1893, courtesy of Lawrence Reed.
16Jan3:44 pmEST
Flattening Out After a Winning Week; Chess Moves
It has been a very profitable several weeks of trading for me in 2015, thus far, after a solid 2014. I am off to a strong start and have decided to flatten out into the long, holiday weekend. I covered all of my equity shorts, as I am not going to press into a myriad of potential headlines (or lack thereof) over the long weekend. I could easily...
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About
“chessNwine” has been a popular trader and financial blogger since 2009. His work has appeared in The Wall Street Journal Online Edition, Yahoo Finance, TheStreet.com, Josh Brown’s The Reformed Broker blog, AbnormalReturns.com, Barry Ritholtz’s The Big Picture blog, and the “Suggested” stream on Stocktwits.com.
